Growth in a production possibilities curve diagram is shown as:
a. a movement along the curve to the southeast.
b. a movement along the curve to the southwest.
c. an outward shift of the curve
d. an inward shift of the curve.
c
Economics
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At the point where a fair price is set,
a. price = average total cost (ATC) b. price = marginal cost c. price = marginal revenue d. price = total cost e. price = total revenue
Economics
An explanation for why the short-run aggregate supply curve is upward-sloping is because:
A. ?the quantity of real output supplied is inversely related to the aggregate supply curve. B. ?nominal incomes are fixed. C. ?the capital-output ratio is fixed. D. ?an increase in price will increase the marginal aggregate output.?
Economics